Wednesday after hours
The following small-cap companies are among the newsmakers in after-hours trading Wednesday:
NovaStar Financial Inc.’s (NYSE: NFI) shares surged more than 17% in after-hours trading today after the residential mortgage lender announced it is exploring strategic alternatives, including possibly a sale. The Kansas City, Mo.-firm also reported that it has received a commitment for an additional financing facility for up to $100 million from Wachovia Capital Markets LLC. Shares were up $0.87 at $5.90.
Shares of Hot Topic Inc. (Nasdaq: HOTT) were up $0.16, or 1.7%, to $11.10, on heavy volume in after-hours trading today after the City of Industry, Calif.-based specialty retailer reported that same-store sales increased by 3.4% for March. Analysts polled by Thomson Financial expected same-store sales to rise by 0.5 percent, according to the Associated Press. Overall, Hot Topic’s net sales increased by 7% to $63.3 million for the month.
Nautilus Inc. (NYSE: NLS) dipped $1.86, or 11.6%, to $14.15 in after-hours trading today after the Vancouver, Wa.-based fitness company significantly lowered its first quarter revenue and earnings guidance. Nautilus now expects earnings per share of $0.08 to $0.09 on net sales of around $160 million, compared with previous guidance of $0.18 to $0.21 per share on net sales between $185 million to $195 million. Nautilus Chairman and CEO Greg Hammann blamed a “sluggish” North American market for home fitness for the revised guidance.
Los Angeles, Calif.-based Thomas Properties Group Inc.’s (Nasdaq: TPGI) stock inched upward by $0.15, or 1%, to $14.90 after the market closed today on the news that it plans to offer 7 million shares of its common stock to the public. UBS Investment Bank, Banc of America Securities LLC and Friedman, Billings, Ramsey & Co. Inc. will be joint book running managers on the offering.
Dot Hill Systems Corp.’s (Nasdaq: HILL) stock climbed $0.29, or 7.4%, to $4.21 late today after the storage systems provider said it expects to report higher revenue and a narrower loss for the first quarter than it originally expected. The Carlsbad, Calif., firm now expects to report a loss per share in the range of $0.13 to $0.15 on revenue of $53 million to $54 million. In February, Dot Hill had expected to record a loss per share in the range of $0.20 to $0.23 on revenue in the range of $46 to $49 million. Higher-than-anticipated revenue and margin contribution from its largest customer was the primary factor behind the revised guidance, the company said.
Christopher & Banks Corporation (NYSE: CBK) said today that its fiscal fourth quarter revenue was up while net income was down. The Minneapolis-based specialty retailer of women's clothing also noted that same-store sales for the fourteen-week period ended March 3 fell 7% compared with the same period last year. Looking ahead, the firm said it expects earnings per share of $0.30 to $0.31 for the first quarter of fiscal 2008. Christopher & Banks’ stock remained unchanged at $18.96 on active volume today after the market closed.
NovaStar Financial Inc.’s (NYSE: NFI) shares surged more than 17% in after-hours trading today after the residential mortgage lender announced it is exploring strategic alternatives, including possibly a sale. The Kansas City, Mo.-firm also reported that it has received a commitment for an additional financing facility for up to $100 million from Wachovia Capital Markets LLC. Shares were up $0.87 at $5.90.
Shares of Hot Topic Inc. (Nasdaq: HOTT) were up $0.16, or 1.7%, to $11.10, on heavy volume in after-hours trading today after the City of Industry, Calif.-based specialty retailer reported that same-store sales increased by 3.4% for March. Analysts polled by Thomson Financial expected same-store sales to rise by 0.5 percent, according to the Associated Press. Overall, Hot Topic’s net sales increased by 7% to $63.3 million for the month.
Nautilus Inc. (NYSE: NLS) dipped $1.86, or 11.6%, to $14.15 in after-hours trading today after the Vancouver, Wa.-based fitness company significantly lowered its first quarter revenue and earnings guidance. Nautilus now expects earnings per share of $0.08 to $0.09 on net sales of around $160 million, compared with previous guidance of $0.18 to $0.21 per share on net sales between $185 million to $195 million. Nautilus Chairman and CEO Greg Hammann blamed a “sluggish” North American market for home fitness for the revised guidance.
Los Angeles, Calif.-based Thomas Properties Group Inc.’s (Nasdaq: TPGI) stock inched upward by $0.15, or 1%, to $14.90 after the market closed today on the news that it plans to offer 7 million shares of its common stock to the public. UBS Investment Bank, Banc of America Securities LLC and Friedman, Billings, Ramsey & Co. Inc. will be joint book running managers on the offering.
Dot Hill Systems Corp.’s (Nasdaq: HILL) stock climbed $0.29, or 7.4%, to $4.21 late today after the storage systems provider said it expects to report higher revenue and a narrower loss for the first quarter than it originally expected. The Carlsbad, Calif., firm now expects to report a loss per share in the range of $0.13 to $0.15 on revenue of $53 million to $54 million. In February, Dot Hill had expected to record a loss per share in the range of $0.20 to $0.23 on revenue in the range of $46 to $49 million. Higher-than-anticipated revenue and margin contribution from its largest customer was the primary factor behind the revised guidance, the company said.
Christopher & Banks Corporation (NYSE: CBK) said today that its fiscal fourth quarter revenue was up while net income was down. The Minneapolis-based specialty retailer of women's clothing also noted that same-store sales for the fourteen-week period ended March 3 fell 7% compared with the same period last year. Looking ahead, the firm said it expects earnings per share of $0.30 to $0.31 for the first quarter of fiscal 2008. Christopher & Banks’ stock remained unchanged at $18.96 on active volume today after the market closed.
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